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Called to Account: Easy ways to soothe the sting of stagflation

Workers are being worn down by stagflation — the toxic combination of economic
stagnation and inflation.

The further weakening of the pound last week may be good for export
businesses, but it will make life harder for households, who will pay more
for the food and energy Britain imports. Employment may be rising, but wages
grew only 1.4% last year, well below inflation at 2.8%. The Centre for
Economics and Business Research, the think tank, predicts the pain will only
get worse this year, with a fall in wages of 0.6% when adjusted for
inflation.

It’s no wonder the economy shrank 0.3% in the final quarter of last year, when
consumer spending makes up almost two-thirds of GDP and many households have
no cash left at the end of the month.

If it’s been a while since you looked at all your household bills, now is the
time.